Delaware Life Insurance Exam Questions AND Correct
Answers
- ✔✔health insurance that provides coverage for most types
of medical expenses
Adhesion - ✔✔The insured may only accept the contract "as
written" or reject it
Agent/Producer - ✔✔a legal representative of an insurance
company; the classification of producer usually includes
agents and brokers; agents are the agents of the insurer
Aleatory - ✔✔Unequal exchange of value. One party may
obtain a far greater value than the other under the contract.
Applicant or proposed insured - ✔✔a person applying for
insurance
Cafeteria plan - ✔✔type of employee benefit plan that allows
insureds to choose between different types of benefits
Comprehensive coverage - ✔✔
, Consent - ✔✔permission to do something
Consumer Reports - ✔✔Written and /or oral statements
regarding a consumer's credit, character, reputation, or habits
collected by a reporting agency from employment records,
credit reports, and other public sources.
Copayment - ✔✔
how does a warranty differ from a representation? -
✔✔Warranties are absolutely true; representations are true
to the best of one's knowledge
Insurable interest - ✔✔the policyowner facing the possibility
of losing something of value in the event of loss
Insurance policy - ✔✔a contract between a policyowner
(and/or insured) and an insurance company which agrees to
pay the insured or the beneficiary for loss caused by specific
events
Answers
- ✔✔health insurance that provides coverage for most types
of medical expenses
Adhesion - ✔✔The insured may only accept the contract "as
written" or reject it
Agent/Producer - ✔✔a legal representative of an insurance
company; the classification of producer usually includes
agents and brokers; agents are the agents of the insurer
Aleatory - ✔✔Unequal exchange of value. One party may
obtain a far greater value than the other under the contract.
Applicant or proposed insured - ✔✔a person applying for
insurance
Cafeteria plan - ✔✔type of employee benefit plan that allows
insureds to choose between different types of benefits
Comprehensive coverage - ✔✔
, Consent - ✔✔permission to do something
Consumer Reports - ✔✔Written and /or oral statements
regarding a consumer's credit, character, reputation, or habits
collected by a reporting agency from employment records,
credit reports, and other public sources.
Copayment - ✔✔
how does a warranty differ from a representation? -
✔✔Warranties are absolutely true; representations are true
to the best of one's knowledge
Insurable interest - ✔✔the policyowner facing the possibility
of losing something of value in the event of loss
Insurance policy - ✔✔a contract between a policyowner
(and/or insured) and an insurance company which agrees to
pay the insured or the beneficiary for loss caused by specific
events
